Jack Ma-backed Ant International is actively seeking to obtain stablecoin issuer licenses in Singapore, Hong Kong, and Luxembourg.
Ant International's Plans for Stablecoin Licensing
According to sources familiar with the matter, Ant International is working towards acquiring stablecoin licenses. This news emerged after Bloomberg reported on the company's plans to expand its operations in compliance with new cryptocurrency regulations.
The Stablecoin Market and Its Significance
Stablecoins are becoming an important tool for facilitating transactions in international payments. Their market capitalization recently surpassed $250 billion, and this figure is expected to continue rising amid increasing interest from institutional investors and regulators.
Ant International's Response to Regulatory Changes
Ant International plans to wait for the upcoming Stablecoin Ordinance in Hong Kong, expected in August. After its release, the company intends to apply for a stablecoin license, ensuring compliance with the country's rules.
Ant International aims to strengthen its position in the global payments market by obtaining stablecoin licenses, reflecting the overall trend of growth and regulation in the cryptocurrency space.
